Binance Accuses SEC of Unfair Tactics Admist The Ongoing Legal Battle

Key Points:

• Binance accuses the SEC of unfair tactics in their legal battle.
• The settlement agreement reached by Binance with the DOJ and FinCEN is not related to the SEC’s charges.
• Binance and CZ have previously asked the court to dismiss the SEC’s lawsuit.

Binance accuses SEC of unfair tactics in their legal battle, stating that the settlement with the DOJ is unrelated to the SEC’s charges.

Binance has accused the U.S. Securities and Exchange Commission (SEC) of unfair tactics in their ongoing legal battle. The exchange argues that the SEC’s supplementary brief did not present any new effective evidence in the case.

Binance submitted documents to the U.S. District Court, stating that the settlement agreement reached by Binance with the U.S. Department of Justice (DOJ) and Financial Crimes Enforcement Network (FinCEN) is not materially related to the SEC’s charges against Binance. 

Binance Accuses SEC of Unfair Tactics

On 9 December, the SEC claimed that Binance’s $4.3 billion settlement agreement with the DOJ and others supported the SEC’s lawsuit against the exchange. The SEC requested the court to consider the admissions made by Binance CEO Changpeng Zhao (CZ) in the settlement. However, Binance and CZ have asked the court to dismiss the SEC’s lawsuit.

Binance‘s settlement with the U.S. government concluded investigations conducted by the DOJ, various branches of the Treasury Department, and the Commodity Futures Trading Commission (CFTC).

However, the SEC was not part of the settlement and instead filed a separate lawsuit against Binance and CZ in June. The SEC’s lawsuit alleges that Binance mishandled customer funds, misled investors and regulators, and violated securities rules.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.